Target 4585-88 (resistance)
SPI may remain below the 3-week lows @ 4593
SPI Weekly and Daily range
SPI is down into major support levels, as per weekly report.
Today opened on support in the daily range @ 4552 and proceeded to fill the gap to Wednesday's breakout at 4585.
There is also a breakout of the weekly lows @ 4593, which could result in the next 3-days consolidating around major support levels, today being the first...
As mentioned a couple of weeks ago, the up trend won't normally happen until the last week of the current month (next week) and December pushes up from the December 50% levels.
Up trend will be helped by the following week rising up from major support & trading above the higher step & 50% level in December.
Otherwise if Support doesn't hold the trend bias is down for the start of 2011, as per recent Weekly report.
- Daily Trading Set-ups & Analysis
Posts
